As always, we apprised you last month on the latest news from big-box retailers. The goal? To keep you up-to-date on current consumer needs and how major national retailers are responding — along with actionable insights into what this all means for you and your business.
With the retail landscape constantly changing, it’s time for another look.
Read on for a glimpse into brand behaviors and takeaways from March 2022.
Costco
Costco announced news of major updates to its operations last month, including the end of special pandemic shopping hours, the opening of new warehouses, the addition of a “current inventory” feature to online shopping, the expansion of Costco Next, and an investment in more supply chain resources.
Meanwhile, its financial results for the quarter demonstrated that its “slow rebound” is continuing.
Brand Takeaways
While Costco had announced ending its pandemic hours at other times over the past two years, it backtracked on all of those occasions due to upticks in COVID transmissions. This announcement is expected to stick, and signifies that a return to normal may finally be within sight.
Costco’s financial results are also heartening news, and further indicate positive post-COVID outcomes.
Kohl's
Kohl’s announced plans to drive growth in several ways, including building out its partnership with Sephora to a $2 billion business across 850+ stores; opening 100 new stores over the next 4 years; enhancing Kohl's cards rewards benefits; expanding omnichannel capabilities; and more.
The retailer has also begun plans to achieve net-zero emissions by 2050. This is consistent with its recent recognition by the Ethisphere Institute as one of the world’s most ethical companies.
Brand Takeaways
As one of Ethisphere’s honorees, Kohl’s is among a group of companies acknowledged for setting global standards for business integrity and citizenship across five key areas: leadership and reputation; ethics and compliance program; governance; environmental and societal impact; and culture of ethics.
Ethisphere’s Chief Executive Officer, Timothy Erblich, underscored the need for today’s business owners to drive positive change. Brands looking to generate similar positive buzz might also explore their own efforts to be ethical and accountable.
Target
Target released its full-year report in 2021, revealing growth in sales, revenue, and traffic since 2019 across all five core categories: apparel, food and beverage, essentials and beauty, home, and hardlines. It’s also expanding upon existing campaigns while launching new ones.
A major announcement — consistent with the retailer’s Target Forward strategy — was progress toward its first net-zero energy store. Another noteworthy development was Target’s celebration of Women’s History Month 2022 with its “My Womanhood” campaign."
Brand Takeaways
Sustainability remains front and center for Target, as does continuing to prioritize building trust and guest loyalty. These focus areas represent important takeaways for all brands regarding what matters to today’s consumers.
One opportunity for many brands to improve in this area? Packaging. In addition to having our own internal Bay Cities Green Program, we also offer invaluable partnerships for organizations looking to adopt a more sustainable approach to their product packaging and displays.
Walmart & Sam's Club
Walmart had several technology-related announcements last month, including accelerating the expansion of its Global Tech initiative; unveiling a new Spotify promotion with free membership for Walmart+ members and associates; and the launch of new virtual fitting room technology, Zeekit.
The retailer also announced plans to participate in two major conferences: the Bank of America Securities 2022 Consumer & Retail Technology Conference and the UBS Global Consumer & Retail Conference.
Finally, Walmart reiterated its commitment to making wellness accessible to all with the addition of new services to its Walmart.com Wellness Hub. Meanwhile, the US arm of the retailer's global advertising business, Walmart Connect, announced plans for making the shopping experience more meaningful for its customers.
Brand Takeaways
The importance of the customer journey cannot be overstated, as exemplified by Walmart's ongoing prioritization of this aspect.
Additionally, the new Spotify promotions showcase a movement toward providing employees and customers alike with new and exciting perks.
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Regardless of what’s trending at the moment, your product packaging and POP displays can have a significant impact on your bottom line. Click on the image below to download our FREE ebook, and learn more!
